NORWAY - EU rules against one of four Ratos bolt-ons

The EU Commission's competition authority ruled that Arcus could not acquire Grönstedts Cognac, as the group already owns Braastad Cognac and adding Grönstedts would give Arcus too high a market share in Sweden.

Arcus will complete the transaction with the three approved brands: Star Gin, Red Port and Dry Anis.

Formed in 1996, Arcus was privatised in 2001. The group employs approximately 460 people and is the best known for brands such as Linie Aquavit, Braastad Cognac, Vikingfjord Vodka, Hammer Gin and Upper Ten Whisky. Sales in 2008 totalled SEK 1,532m and operating profit reached SEK 168m.

Ratos's holds and 83% stake in the business.

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